US Bancorp DE Has $28.74 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

US Bancorp DE grew its stake in shares of Trane Technologies plc (NYSE:TT) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,943 shares of the company’s stock after purchasing an additional 3,392 shares during the quarter. US Bancorp DE’s holdings in Trane Technologies were worth $28,744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. DT Investment Partners LLC bought a new position in Trane Technologies during the third quarter worth about $36,000. Fortitude Family Office LLC increased its holdings in shares of Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in Trane Technologies in the 2nd quarter valued at $39,000. Quarry LP acquired a new stake in Trane Technologies during the 2nd quarter valued at $39,000. Finally, Valley Wealth Managers Inc. bought a new position in Trane Technologies during the second quarter worth $51,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TT shares. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday. Stephens reaffirmed an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Barclays lifted their price target on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Morgan Stanley began coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $380.15.

Trane Technologies Price Performance

TT stock opened at $376.15 on Friday. The company’s 50-day moving average price is $377.83 and its two-hundred day moving average price is $345.36. The firm has a market cap of $84.89 billion, a P/E ratio of 34.89, a P/E/G ratio of 2.59 and a beta of 1.01. The company has a quick ratio of 0.84, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 12 month low of $211.31 and a 12 month high of $406.96.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the firm posted $2.79 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, analysts anticipate that Trane Technologies plc will post 10.89 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.